[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 74.

truxton

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Quote from: Zenoru on August 12, 2017, 10:47:24 PM

Looks like we reached another USD all-time high ($15.53) as far as I can tell from coinmarketcap - although it's still down in terms of BTC value. Though Blocknet is holding up very well against the Bitcoin rally to $4000+. The nice thing is, because Blocknet is infrastructure, crypto doing well generally translates to Blocknet doing well. Can't wait for this to move to $100 and beyond.

It reached over $16.00 a few hours ago.

Optimiza

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What would be the advantages of blocknet over the comit protocol which TenX is working on? Would they serve the same function? Thanks

Zenoru

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Looks like we reached another USD all-time high ($15.53) as far as I can tell from coinmarketcap - although it's still down in terms of BTC value. Though Blocknet is holding up very well against the Bitcoin rally to $4000+. The nice thing is, because Blocknet is infrastructure, crypto doing well generally translates to Blocknet doing well. Can't wait for this to move to $100 and beyond.

crypt0biwan

newbie

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Really looking forward to the service nodes guys! awesome :-)

kaltron

newbie

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Quote from: gerdab on August 09, 2017, 11:39:32 AM

Quote from: kaltron on August 08, 2017, 10:16:49 PM

Back of napkin calculation, do I have this right?

6 million BLOCKs are burned.
The top holders with enough to run a service node have roughly 3.6 million according to https://chainz.cryptoid.info/block/#!rich
The rest have 470k

Assuming that everyone who can run a service node is, and anyone who can stake is doing so.

If you have 5k and run a service node, you get a reward of 0.7 * 5k / 3.6 million = 0.00097222222
If you have 5k and stake through your wallet, you get a reward of 0.3 * 5k / 470k = 0.00319148936

Or do service nodes get both the service and staking reward?

if u run node service, u'll ve stake reward + transactions fees (≈ 0,13%-0,15%)...
The stake rewards 'll be negligible compared to transactions fees ...

If BLOCK succeeded to attract cryptocurrencies exchangers, u can imagine the volume of transit through the nodes, and the gains that can be generated by each node.

Thanks that makes sense. The piece that I was missing is that 1 BLOCK is already being created per minute. Proof of staking is new to me

. I wish I had found out about this project earlier, its incredibly promising.

Does anyone know exactly how the 5000 requirement to run a node was decided? I saw it was referenced earlier as being decided by vote - so what's the benefits of 5000, and not 10000? Or 1000? The number sets an effective upper limit on the total market cap of the coin, correct?

Irky

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Quote from: Trollollo on August 07, 2017, 09:12:09 AM

Quote from: free-bit.co.in on August 07, 2017, 12:26:32 AM

Quote from: CryptoXMan on August 07, 2017, 12:07:26 AM

Quote from: Bigbobbasher on August 06, 2017, 09:49:10 PM

Quote from: CryptoXMan on August 06, 2017, 04:43:11 PM

Quote from: Bigbobbasher on August 06, 2017, 11:12:01 AM

When staking blocknet, do i need to keep wallet on at all times? Thx.

No. Just unlock the wallet every few days to a week and it will stake still. The amount will be more per stake, but still works out the same. eg. chunky (higher coins per transaction) vs noisy (less coins, but more transactions)

Thx cryptoxman:*is it worth staking 100 block?

Do you want extra block for doing nothing but unlocking your wallet?

Same answer to your question. For now it's around $12 per block... What if it jumps to 40-50 or even $200 each later on... Why not get the free coins?

The annual PoS rate is 3%, but yes with the increasing price it's definitely good to get some extra coins.

PoS is 9% after last release Wink

So, apparently after the QT wallet update scheduled for next week it will no longer be true that you only have to unlock your wallet every few days in order to stake coins (which is what I've been doing since I currently have my wallet on the laptop I carry around with me). The good news is that the POS rate is increasing to 9% (more like 8% since 1% goes to development funds), but the not as good news is that staking will no longer be dependent on coin age and so you will have to keep your wallet online and unlocked 24/7 in order to receive maximum staking rewards.

truxton

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Activity: 771

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Quote from: lijoe408 on August 11, 2017, 05:25:15 AM

Quote from: ?? on ??

When Blocknet will be more user friendly?

Doesn't seem like it atm. From what I gather, you must download the wallet of each trading pair in order to conduct a trade. It remains to be seen if people will actually go through the effort.

Hi. While it is true that RIGHT NOW you must download whole blockchains, this will not remain true for very long. This is from the road map posted on the previous page (In Bold):

Quote

Production blockchain launch
- Service nodes launch on mainnet
- Design specification document ("white paper")
- Decentralized exchange app ("UI")
- Decentralized exchange SPV multiwallet (no full blockchains)

Once SPV in up and running, you will no longer have to download full Blockchains. :0

lijoe408

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Activity: 434

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Quote from: ?? on ??

When Blocknet will be more user friendly?

Doesn't seem like it atm. From what I gather, you must download the wallet of each trading pair in order to conduct a trade. It remains to be seen if people will actually go through the effort. The project shows alot of promise though. The low supply is very good.

Could this platform be used to trade something like Blackbytes? There is a huge demand from the Byteball community to find some way to trade these. If you could implement blackbyte trading then you would gain the attention of the whole byteball community as every member has Blackbytes.

derped

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Quote from: bamsterdam on August 10, 2017, 03:07:12 PM

that would be great but I dont understand why exchanges would do that since they miss out on the fee themself?

And exchanges would still benefit greatly from the high volume seeing how high they charge for on site transactions + withdrawal fees

Johnny00

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Activity: 896

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Quote from: bamsterdam on August 10, 2017, 03:07:12 PM

that would be great but I dont understand why exchanges would do that since they miss out on the fee themself?

He's refering to people buy and sell. Nothung to do with exchanges

bamsterdam

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Look Morty magic internet money

that would be great but I dont understand why exchanges would do that since they miss out on the fee themself?

gerdab

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Quote from: kaltron on August 08, 2017, 10:16:49 PM

Back of napkin calculation, do I have this right?

6 million BLOCKs are burned.
The top holders with enough to run a service node have roughly 3.6 million according to https://chainz.cryptoid.info/block/#!rich
The rest have 470k

Assuming that everyone who can run a service node is, and anyone who can stake is doing so.

If you have 5k and run a service node, you get a reward of 0.7 * 5k / 3.6 million = 0.00097222222
If you have 5k and stake through your wallet, you get a reward of 0.3 * 5k / 470k = 0.00319148936

Or do service nodes get both the service and staking reward?

if u run node service, u'll ve stake reward + transactions fees (≈ 0,13%-0,15%)...
The stake rewards 'll be negligible compared to transactions fees ...

If BLOCK succeeded to attract cryptocurrencies exchangers, u can imagine the volume of transit through the nodes, and the gains that can be generated by each node.

kaltron

newbie

Activity: 2

Merit: 0

Quote from: synechist on August 08, 2017, 03:45:39 PM

Hi all

Quick update from Dan:
the new blocknet-qt wallet will be available for tomorrow evening (provided no last minute issues) for preview/testing

Updated specs
- 1minute block time
- 1 block reward per block (thus decreasing interest over time)
- split 70%/30%/ +10% (service nodes get 70%, stakers get 30%; the 10% is not a stake reward, but is via the self-funding model)
- 5k required to run a service node
- for staking, the wallet will need to be open as often as possible, since it is not based on coin age.
- migration/installation: it uses a new roaming folder, so simply install and copy your wallet.dat to the new folder.*

* tomorrow is the launch on testnet, so don't copy your wallet.dat over just yet. Wait for the mainnet launch mid-month.

Back of napkin calculation, do I have this right?

6 million BLOCKs are burned.
The top holders with enough to run a service node have roughly 3.6 million according to https://chainz.cryptoid.info/block/#!rich
The rest have 470k

Assuming that everyone who can run a service node is, and anyone who can stake is doing so.

If you have 5k and run a service node, you get a reward of 0.7 * 5k / 3.6 million = 0.00097222222
If you have 5k and stake through your wallet, you get a reward of 0.3 * 5k / 470k = 0.00319148936

Or do service nodes get both the service and staking reward?

zana

newbie

Activity: 40

Merit: 0

Quote from: synechist on August 08, 2017, 03:45:39 PM

Hi all

Quick update from Dan:
the new blocknet-qt wallet will be available for tomorrow evening (provided no last minute issues) for preview/testing

Updated specs
- 1minute block time
- 1 block reward per block (thus decreasing interest over time)
- split 70%/30%/ +10% (service nodes get 70%, stakers get 30%; the 10% is not a stake reward, but is via the self-funding model)
- 5k required to run a service node
- for staking, the wallet will need to be open as often as possible, since it is not based on coin age.
- migration/installation: it uses a new roaming folder, so simply install and copy your wallet.dat to the new folder.*

* tomorrow is the launch on testnet, so don't copy your wallet.dat over just yet. Wait for the mainnet launch mid-month.

First of all congratulations for the great work.

How much would be the average reward for a service node?
Can I run a service node from a VPS?

bamsterdam

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Activity: 453

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Look Morty magic internet money

Thanks devs for amazing work and updates really excited about blocks future

Also thanks to truxton for keeping the community up te date with everything!

Bigbobbasher

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Crypto connoisseur.

Thx stupid_seb!!

CryptoXMan

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Merit: 10

Quote from: synechist on August 08, 2017, 03:45:39 PM

Hi all

Quick update from Dan:
the new blocknet-qt wallet will be available for tomorrow evening (provided no last minute issues) for preview/testing

Updated specs
- 1minute block time
- 1 block reward per block (thus decreasing interest over time)
- split 70%/30%/ +10% (service nodes get 70%, stakers get 30%; the 10% is not a stake reward, but is via the self-funding model)
- 5k required to run a service node
- for staking, the wallet will need to be open as often as possible, since it is not based on coin age.
- migration/installation: it uses a new roaming folder, so simply install and copy your wallet.dat to the new folder.*

* tomorrow is the launch on testnet, so don't copy your wallet.dat over just yet. Wait for the mainnet launch mid-month.

Amazing update!!! Last chance to pick up blocknet nodes before the rocket leaves for the moon!

insom

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Activity: 276

Merit: 250

Quote from: synechist on August 08, 2017, 05:07:59 PM

Quote from: insom on August 08, 2017, 05:05:10 PM

so basically the launch of the new mainnet is a hardfork of the then old blocknet chain?

No, it's a migration to a new blockchain.
Further details are in the press release.

alright got it
looking forward to the mainnet launch Wink

synechist

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To commodify ethicality is to ethicise the market

Quote from: insom on August 08, 2017, 05:05:10 PM

so basically the launch of the new mainnet is a hardfork of the then old blocknet chain?

No, it's a migration to a new blockchain.
Further details are in the press release.

insom

sr. member

Activity: 276

Merit: 250

so basically the launch of the new mainnet is a hardfork of the then old blocknet chain?

Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 74. (Read 1103308 times)